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On Jan. 2, the T3 Financial Crime Unit (T3 FCU), a collaboration between Tether, Tron, and TRM Labs, announced that it had passed \u201ca significant milestone in its fight against cryptocurrency-related financial crime.\u201d<\/p>\n
The unit, launched in August 2024, has worked closely with global law enforcement agencies to \u201csuccessfully intervene in cases involving money laundering, investment fraud, blackmail operations, terrorism financing, and other serious financial crimes,\u201d it stated.<\/p>\n
\n\u201cBy working closely with authorities across jurisdictions, Tether has been instrumental in freezing criminal assets and ensuring that bad actors do not exploit stablecoins like USDT,\u201d said Paolo Ardoino, CEO of Tether.<\/p>\n<\/blockquote>\n
\u201cCriminals now have 100 million reasons to think twice before using TRON,\u201d said Justin Sun, founder of the Tron network<\/a>, who added:<\/p>\n
\n\u201cT3 FCU\u2019s rapid success in freezing criminal assets sends an unmistakable message: if you\u2019re using USDT on TRON for crime, you will be caught.\u201d<\/p>\n<\/blockquote>\n
\nT3 Financial Crime Unit Marks Enforcement Victory: $100 Million in Criminal Assets Frozen Across Five Continents
Read more: https:\/\/t.co\/HReVLYRfxz<\/a><\/p>\n\u2014 Tether (@Tether_to) January 2, 2025<\/a><\/p>\n<\/blockquote>\n
The T3 Financial Crime Unit has already analyzed millions of transactions across five continents, monitoring over 3 billion in USDT volume, according to the announcement.<\/p>\n
Chris Janczewski, head of global investigations at TRM Labs, said surpassing 100 million USDT in frozen assets is just the beginning.<\/p>\n
\n\u201cIn 2025 and beyond, as more and more lawful users enter the growing crypto ecosystem, it is more important than ever to keep it safe. T3 is dedicated to that mission.\u201d<\/p>\n<\/blockquote>\n
Are Tether\u2019s EU Woes About to Deepen?<\/h2>\n
Tether\u2019s market capitalization<\/a> has started to shrink for the first time since late 2022, having fallen by 3 billion USDT from its peak of around $140 billion in mid-December.<\/p>\n
The decline in supply may be due to deepening concerns in Europe as its restrictive Markets in Crypto-Assets (MiCA) regulations were activated, raising uncertainty about USDT\u2019s status on exchanges in the bloc.<\/p>\n
The implementation of MiCA in Europe on Dec. 30 has created an uncertain future for stablecoin issuers such as Tether since the regulations do not clarify whether USDT is compliant.<\/p>\n
However, Ardoino dismissed the concerns<\/a> as FUD earlier this week as the firm added $700 million worth of Bitcoin to its treasury. \u201cDon\u2019t believe the FUD,\u201d he said before adding, \u201cCompetitors are just desperate to make you believe things that don\u2019t exist.\u201d<\/p>\n
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